San Francisco is known for much more than the Golden Gate Bridge and Alcatraz—it’s a city with over 800K residents (this number does not include the sea lions who reside on Pier 39), where each of its major neighborhoods has its own distinct culture and charm. This city is so unique that there is a weather map by neighborhood, since each neighborhood has its very own microclimate–you could be wearing pants with a jacket in one and shorts and tee in the next. If you are looking to move into the city, now is the perfect time since real estate prices have been trending downward. We know that finding the right neighborhood can be overwhelming, so start with this list, and you may be able to snag a good deal in one of these top neighborhoods.
| Neighborhood | Median Closing Price | Median 3 year Closing Price | % Change |
|---|---|---|---|
| Central Sunset/Sunset District | $1,450,000 | $1,591,000 | -8.9% |
| Mission Terrace | $1,100,000 | $1,200,000 | -8.3% |
| Diamond Heights/Twin Peaks West | $1,760,000 | $1,788,000 | -1.6% |
| West Highlands/Twin Peaks West | $1,505,500 | $1,521,500 | -1.1% |
| Parkside/Sunset District | $1,800,000 | $1,820,000 | -1.1% |
| Castro | $2,692,500 | $2,700,000 | -.3% |
Mission Terrace Neighborhood
This charming Victorian 3 bedroom/2 bath home with gorgeous wood paneling and modern amenities is located in the Mission Terrace neighborhood. This neighborhood ranked #2 on our list of where to buy–with prices having declined a little over 8% over the last three years. This neighborhood is a hidden oasis of tree lined trees just five miles from the heart of the city. It’s safe, friendly, quiet and a great place for raising a family.
Methodology
We looked at the median home close price by zip code during March, 2024 and compared that to the median home close price over the prior three years to determine the percent growth. We then ranked the zip codes, within each state, to determine which neighborhood/city had the highest percent change. In this case, with prices trending down in San Francisco, we looked at the neighborhoods with the greatest negative change.
Want to know more about San Francisco?
If interested in purchasing an investment property in San Francisco, with prices and mortgage rates trending downward, it could be the perfect time. Look no further than The Best Home Flips in San Francisco for inspiration. Or, if just want to explore other homes in the Golden City, see the latest San Francisco listings.
